Heartland Express 4Q profit rises on property sale

Mike

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Trucking company Heartland Express Inc. said its fourth-quarter earnings rose 16 percent, mostly due to the sale of property and equipment.

The company said late Thursday it earned $19.4 million, or 20 cents per share, compared with $16.6 million, or 17 cents per share, in the year-ago quarter. The latest results were boosted by $6.1 million, or 4 cents per share, due to property and equipment sales.

Revenue slipped to $142 million, a 7 percent decrease from $152.8 million a year ago.

Heartland blamed its lower sales on the precipitous decline in freight demand during the fourth quarter.

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